Closing Costs for Residential Real Estate Transactions

Every home sale involves fixed costs. Buyers and sellers customarily split these costs, as the sales contract specifies.

As you'll see below, many of the closing costs result from getting your mortgage. Since Bob Rutledge Mortgage is highly experienced with closings and mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between the LE and closing. We review LEs with buyers every day, so we'd be glad to answer any questions you have about closing costs.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Bob Rutledge Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)

Bob Rutledge Mortgage can answer questions about these closing costs. Give us a call: 3149139678.

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Bob Rutledge Mortgage

Loan Officer NMLS#: 297044

New American Funding 12321 Olive Blvd, ste 150
St. Louis, MO 63141